Section 457-107-1 - DEFINITIONSA. Reference to Act Definitions. Certain terms used in this rule, which are defined in the Finance Authority of Maine Act, 10 M.R.S.A. §961 and following (the Act), shall have the meanings set forth in the Act, unless clearly specified otherwise or unless the context clearly indicates otherwise.B. Defined Terms. 1. "Bond" means a revenue obligation security (as defined in the Act), and includes a certificate of participation or other evidence of indebtedness representing an interest in one or more loans benefiting from capital reserve fund security under this program2. "Borrower" includes a prospective borrower where the context requires. 3. "Capital Reserve Contract" means an agreement pursuant to which the Authority establishes a capital reserve fund to back a bond and/or to benefit a loan.4. "Capital Reserve Fund" means a capital reserve fund established pursuant to 10 M.R.S.A. §1053.5. "Cash equivalents" means deposits of money, certificates of deposit or other cash equivalents, irrevocable letters of credit issued by financial institutions acceptable to the Authority or loan guarantees from insurance companies or other institutions satisfactory to the Authority.6. "Certificate of Approval" means a certificate issued by the Maine Public Utilities Commission (MPUC) upon application of an electric utility with respect to an electric rate stabilization agreement pursuant to 35-A MRSA Section3156.7. "Chief Executive Officer" means the Authority's chief executive officer or a person acting under the supervisory control of the chief executive officer.8. "Electric Rate Stabilization Project" means an agreement by an electric utility with a qualifying facility as defined in 35-A MRSA Section3303, that will result in the reduction in costs to the electric utility and that has been certified by the MPUC to meet the standards established under 35-A MRSA Section3156.9. "Eligible enterprise" means an Electric Rate Stabilization Project.10. "Financing commitment" means, for purposes of this rule, a letter from the chief executive officer agreeing to include a loan in the program to be funded from the proceeds of bonds backed by a capital reserve fund, on the terms and conditions and subject to the requirements stated therein.11. "Members" means the members of the Authority as provided for in the Act.12. "Program" means the Electric Rate Stabilization Project Taxable Bond Program of the Authority established pursuant to the Act.13. "State" means the State of Maine.14. "Trustee" means a financial institution acting as trustee for holders of bonds issued and sold pursuant to this rule and the Act.15. "Underwriter" means a qualified entity capable of buying and/or marketing the bonds.94- 457 C.M.R. ch. 107, § 1